An immersive and hyperpersonalised financial experience

Inner Pagenavigation

Operational open banking

So far, many banks seem to have treated open banking as a regulatory compliance issue. While it is that, viewing open banking as simply a regulatory issue greatly underestimates its enormous potential to transform the industry and to change how banks interact with customers and third parties. Although it is still early days, open banking will certainly redefine what it means to be a bank. In this paper, we revisit the fundamental drivers of open (...)

Operational open banking

So far, many banks seem to have treated open banking as a regulatory compliance issue. While it is that, viewing open banking as simply a regulatory issue greatly underestimates its enormous potential to transform the industry and to change how banks interact with customers and third parties. Although it is still early days, open banking will certainly redefine what it means to be a bank. In this paper, we revisit the fundamental drivers of open (...)

An immersive and hyperpersonalised financial experience

Augmented banking is the next step on the journey of digital transformation. It involves leveraging exponential technologies to enhance the relationship between the bank and its customers by delivering a richer experience through new services and new ways of interacting with traditional services. For example, this can involve using gestures in augmented reality.

Augmented banking, however, is much more than augmented reality as such. Other exponential technologies enabling the vision of augmented banking include computer vision, artificial intelligence, natural language processing, machine learning, virtual and mixed reality, internet of things, data visualisation and biometrics.

Used together, these technologies enable a whole new banking experience that is:

Adaptive, evolving to meet users’ changing physical needs, such as automatically displaying information in larger fonts depending on the age of customers

Engaging, encouraging customers to interact and make decisions based on real information that’s familiar and right in front of them on their phones

Personalised according to every customer’s individual circumstances and particular situation, offering tailored solutions for unmet needs

The relevance of augmented banking

Meaningful data

Provide contextualised financial information

One of the most exciting aspects of augmented banking is that it enables customers to make the right financial decisions by integrating relevant financial information into their everyday lives.

Customer-centricity

Offer a whole new banking experience

Augmented banking encourages customers to interact and take decisions based on real information that’s familiar and right in front of them on their phones.

Relationship building

Become a trusted financial partner

Augmented banking makes it possible to start building the relationship with the customer through non-financial products, in anticipation of their need for financial products.

The value of augmented banking lies in the ability to contextualise and hyperpersonalise offerings using exponential technologies to create unique propositions for any individual customer at any given moment in time, resulting in an immersive banking experience that goes far beyond today’s digital interactions.”

Why choose GFT as strategic partner

Know-how

Specialist platforms and methodologies

Our purpose-built methodologies, multidisciplinary teams, extensive knowledge of digital platforms and close relationships with specialised third parties have enabled us to build a genuinely augmented banking ecosystem.

Time-to-market

Build and test in record time

GFT provides a wide range of accelerators to create proof-of-concept solutions and MVPs, enabling our clients to fully experience solutions before they are deployed in a live Environment.

Thought leadership

Apply exponential technologies to banking

Augmented banking is one of the four pillars of exponential banking as envisioned by GFT. The remaining pillars are open banking, cognitive banking and automation banking.